Likely Short Term Pain and Suffering/Long-Term Questionable

XMR:BTC tried to push through longstanding resistance (~750k sats, 26 Aug 2019) recently, which it has only pumped above once (18 to 19 Sep 2019) since on the daily, not counting wicks, or 6 to 7 Jan. The push was rejected. MACD looks like it wants to cross over and take a dip. May get to 740k sats again before dumping as low as 650k sats again. At ~722k sats atm. Still, this is close to the historical and recent low for XMR, and the next few months may be interesting for BTC, and not in a good way. I expect a short-term break below the orange trend line. If you can short XMR, a setup around 740k with targets around 680k and 625k sats might do well. Anything under 600k sats is further price exploration.

Comentário:

Lines were originally drawn on the 4H chart before zooming out to the 1D.

Comentário:

Maybe a better line-drawing strategy, but not enough data points for my liking. Just a little second-guessing.

Comentário:

Broke through the bottom trend line. 700k sats next...

Trade fechado: objetivo atingido:

I'm going to call this one done. Didn't play out for as long as I expected it to, but it did come very close to my first target (738.5 k vs. 740k on the high side, 680.6k vs. 680k sats on the low side). The start of The Flippening may have disturbed markets throughout the cryptosphere.